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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 2.06
IBCP's Cash to Debt is ranked higher than
52% of the 1088 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.69 vs. IBCP: 2.06 )
Ranked among companies with meaningful Cash to Debt only.
IBCP' s Cash to Debt Range Over the Past 10 Years
Min: 0.09  Med: 0.25 Max: 6.78
Current: 2.06
0.09
6.78
Equity to Asset 0.10
IBCP's Equity to Asset is ranked lower than
51% of the 1578 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.10 vs. IBCP: 0.10 )
Ranked among companies with meaningful Equity to Asset only.
IBCP' s Equity to Asset Range Over the Past 10 Years
Min: 0.03  Med: 0.07 Max: 0.11
Current: 0.1
0.03
0.11
Interest Coverage 5.02
IBCP's Interest Coverage is ranked higher than
80% of the 1429 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.82 vs. IBCP: 5.02 )
Ranked among companies with meaningful Interest Coverage only.
IBCP' s Interest Coverage Range Over the Past 10 Years
Min: 0.09  Med: 1.50 Max: 3.45
Current: 5.02
0.09
3.45
F-Score: 5
WACC vs ROIC
7.04%
9.85%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 25.52
IBCP's Operating margin (%) is ranked lower than
66% of the 1590 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 30.86 vs. IBCP: 25.52 )
Ranked among companies with meaningful Operating margin (%) only.
IBCP' s Operating margin (%) Range Over the Past 10 Years
Min: -55.42  Med: 11.39 Max: 36.57
Current: 25.52
-55.42
36.57
Net-margin (%) 17.39
IBCP's Net-margin (%) is ranked lower than
68% of the 1593 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 22.37 vs. IBCP: 17.39 )
Ranked among companies with meaningful Net-margin (%) only.
IBCP' s Net-margin (%) Range Over the Past 10 Years
Min: -57.34  Med: 11.13 Max: 63.12
Current: 17.39
-57.34
63.12
ROE (%) 7.93
IBCP's ROE (%) is ranked lower than
51% of the 1589 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.01 vs. IBCP: 7.93 )
Ranked among companies with meaningful ROE (%) only.
IBCP' s ROE (%) Range Over the Past 10 Years
Min: -62.04  Med: 5.82 Max: 44.77
Current: 7.93
-62.04
44.77
ROA (%) 0.86
IBCP's ROA (%) is ranked higher than
50% of the 1598 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.86 vs. IBCP: 0.86 )
Ranked among companies with meaningful ROA (%) only.
IBCP' s ROA (%) Range Over the Past 10 Years
Min: -3.05  Med: 0.56 Max: 3.66
Current: 0.86
-3.05
3.66
Revenue Growth (3Y)(%) 32.90
IBCP's Revenue Growth (3Y)(%) is ranked higher than
96% of the 1284 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.10 vs. IBCP: 32.90 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
IBCP' s Revenue Growth (3Y)(%) Range Over the Past 10 Years
Min: -69.2  Med: 8.20 Max: 32.9
Current: 32.9
-69.2
32.9
» IBCP's 10-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q4 2014

IBCP Guru Trades in Q4 2014

Jim Simons 320,866 sh (+11.33%)
» More
Q1 2015

IBCP Guru Trades in Q1 2015

Jim Simons 323,410 sh (+0.79%)
» More
Q2 2015

IBCP Guru Trades in Q2 2015

Jim Simons 364,600 sh (+12.74%)
» More
Q3 2015

IBCP Guru Trades in Q3 2015

Jim Simons 445,300 sh (+22.13%)
» More
» Details

Insider Trades

Latest Guru Trades with IBCP

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

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Ratios

vs
industry
vs
history
P/E(ttm) 18.37
IBCP's P/E(ttm) is ranked lower than
78% of the 1403 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.40 vs. IBCP: 18.37 )
Ranked among companies with meaningful P/E(ttm) only.
IBCP' s P/E(ttm) Range Over the Past 10 Years
Min: 1.55  Med: 15.04 Max: 205.63
Current: 18.37
1.55
205.63
Forward P/E 14.14
IBCP's Forward P/E is ranked lower than
83% of the 703 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 10.52 vs. IBCP: 14.14 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 18.27
IBCP's PE(NRI) is ranked lower than
78% of the 1401 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.40 vs. IBCP: 18.27 )
Ranked among companies with meaningful PE(NRI) only.
IBCP' s PE(NRI) Range Over the Past 10 Years
Min: 1.6  Med: 14.66 Max: 255.67
Current: 18.27
1.6
255.67
P/B 1.29
IBCP's P/B is ranked lower than
75% of the 1542 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.99 vs. IBCP: 1.29 )
Ranked among companies with meaningful P/B only.
IBCP' s P/B Range Over the Past 10 Years
Min: 0.18  Med: 0.98 Max: 2.79
Current: 1.29
0.18
2.79
P/S 3.02
IBCP's P/S is ranked lower than
55% of the 1605 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.81 vs. IBCP: 3.02 )
Ranked among companies with meaningful P/S only.
IBCP' s P/S Range Over the Past 10 Years
Min: 0.03  Med: 1.37 Max: 4.31
Current: 3.02
0.03
4.31
PFCF 15.56
IBCP's PFCF is ranked lower than
77% of the 937 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 9.36 vs. IBCP: 15.56 )
Ranked among companies with meaningful PFCF only.
IBCP' s PFCF Range Over the Past 10 Years
Min: 0.23  Med: 15.05 Max: 153.88
Current: 15.56
0.23
153.88
POCF 12.80
IBCP's POCF is ranked lower than
76% of the 1036 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.10 vs. IBCP: 12.80 )
Ranked among companies with meaningful POCF only.
IBCP' s POCF Range Over the Past 10 Years
Min: 0.18  Med: 8.43 Max: 97.71
Current: 12.8
0.18
97.71
EV-to-EBIT 9.49
IBCP's EV-to-EBIT is ranked higher than
67% of the 1384 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 12.68 vs. IBCP: 9.49 )
Ranked among companies with meaningful EV-to-EBIT only.
IBCP' s EV-to-EBIT Range Over the Past 10 Years
Min: -117.9  Med: 9.85 Max: 318.8
Current: 9.49
-117.9
318.8
EV-to-EBITDA 8.12
IBCP's EV-to-EBITDA is ranked higher than
70% of the 1383 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 11.31 vs. IBCP: 8.12 )
Ranked among companies with meaningful EV-to-EBITDA only.
IBCP' s EV-to-EBITDA Range Over the Past 10 Years
Min: -74.6  Med: 9.20 Max: 184.3
Current: 8.12
-74.6
184.3

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.92
IBCP's Dividend Yield is ranked lower than
72% of the 2412 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.03 vs. IBCP: 1.92 )
Ranked among companies with meaningful Dividend Yield only.
IBCP' s Dividend Yield Range Over the Past 10 Years
Min: 0.46  Med: 2.78 Max: 19.77
Current: 1.92
0.46
19.77
Dividend Payout 0.31
IBCP's Dividend Payout is ranked higher than
54% of the 1441 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.34 vs. IBCP: 0.31 )
Ranked among companies with meaningful Dividend Payout only.
IBCP' s Dividend Payout Range Over the Past 10 Years
Min: 0.07  Med: 0.36 Max: 15.04
Current: 0.31
0.07
15.04
Forward Dividend Yield 2.20
IBCP's Forward Dividend Yield is ranked lower than
72% of the 2191 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.26 vs. IBCP: 2.20 )
Ranked among companies with meaningful Forward Dividend Yield only.
N/A
Yield on cost (5-Year) 1.92
IBCP's Yield on cost (5-Year) is ranked lower than
74% of the 2446 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 3.42 vs. IBCP: 1.92 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
IBCP' s Yield on cost (5-Year) Range Over the Past 10 Years
Min: 0.46  Med: 2.78 Max: 19.77
Current: 1.92
0.46
19.77
3-Year Average Share Buyback Ratio 30.40
IBCP's 3-Year Average Share Buyback Ratio is ranked higher than
99% of the 1061 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -1.70 vs. IBCP: 30.40 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
IBCP' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -211.5  Med: -0.30 Max: 30.4
Current: 30.4
-211.5
30.4

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 1.38
IBCP's Price/Tangible Book is ranked lower than
71% of the 1534 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.07 vs. IBCP: 1.38 )
Ranked among companies with meaningful Price/Tangible Book only.
IBCP' s Price/Tangible Book Range Over the Past 10 Years
Min: 0.32  Med: 1.79 Max: 6.73
Current: 1.38
0.32
6.73
Price/Projected FCF 0.94
IBCP's Price/Projected FCF is ranked lower than
79% of the 850 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.63 vs. IBCP: 0.94 )
Ranked among companies with meaningful Price/Projected FCF only.
IBCP' s Price/Projected FCF Range Over the Past 10 Years
Min: 0.07  Med: 0.88 Max: 3.25
Current: 0.94
0.07
3.25
Price/Median PS Value 2.19
IBCP's Price/Median PS Value is ranked lower than
97% of the 1425 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.98 vs. IBCP: 2.19 )
Ranked among companies with meaningful Price/Median PS Value only.
IBCP' s Price/Median PS Value Range Over the Past 10 Years
Min: 0.02  Med: 1.85 Max: 5.45
Current: 2.19
0.02
5.45
Price/Graham Number 1.20
IBCP's Price/Graham Number is ranked lower than
77% of the 1277 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.77 vs. IBCP: 1.20 )
Ranked among companies with meaningful Price/Graham Number only.
IBCP' s Price/Graham Number Range Over the Past 10 Years
Min: 0.2  Med: 1.23 Max: 2.99
Current: 1.2
0.2
2.99
Earnings Yield (Greenblatt) (%) 10.47
IBCP's Earnings Yield (Greenblatt) (%) is ranked higher than
71% of the 1519 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 7.20 vs. IBCP: 10.47 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
IBCP' s Earnings Yield (Greenblatt) (%) Range Over the Past 10 Years
Min: 0.3  Med: 9.40 Max: 1021.3
Current: 10.47
0.3
1021.3
Forward Rate of Return (Yacktman) (%) 101.81
IBCP's Forward Rate of Return (Yacktman) (%) is ranked higher than
95% of the 869 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.65 vs. IBCP: 101.81 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
IBCP' s Forward Rate of Return (Yacktman) (%) Range Over the Past 10 Years
Min: -206.6  Med: 5.55 Max: 108.4
Current: 101.81
-206.6
108.4

More Statistics

Revenue(Mil) $115
EPS $ 0.79
Beta0.24
Short Percentage of Float2.55%
52-Week Range $12.24 - 16.15
Shares Outstanding(Mil)22.30

Analyst Estimate

Dec15 Dec16 Dec17
Revenue(Mil)
EPS($) 0.87 0.94 1.03
EPS without NRI($) 0.87 0.94 1.03

Business Description

Industry: Banks » Banks - Regional - US
Compare:MTB, USB, PNC, PB, CFR » details
Independent Bank Corp (Ionia MI) was incorporated under the laws of the State of Michigan on September 17, 1973, for the purpose of becoming a bank holding company. It is registered under the Bank Holding Company Act of 1956 and owns the outstanding stock of Independent Bank which is organized under the laws of the State of Michigan. The Bank's activities cover all phases of banking, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending and safe deposit box services. Mepco Finance Corporation, a subsidiary of its Bank, acquires and services payment plans used by consumers to purchase vehicle service contracts provided and administered by third parties. In addition, the Bank offers title insurance services through a separate subsidiary and provides investment and insurance services through a third party agreement with Cetera Investment Services LLC. The Company's main markets are the rural and suburban communities across Lower Michigan that is served by its Bank's branch network. The Bank serves its markets through its main office and a total of 70 branches, 2 drive-thru facilities and 5 loan production offices. The Bank competes with other commercial banks, savings banks, credit unions, mortgage banking companies, securities brokerage companies, insurance companies, and money market mutual funds. The Company is subject to regulation by, the Federal Reserve under the Bank Holding Company Act.
» More Articles for IBCP

Headlines

Articles On GuruFocus.com
Independent Bank Corp. Reports Operating Results (10-K) Mar 10 2011 
Independent Bank Corp. Reports Operating Results (10-Q) Nov 04 2010 
Independent Bank Corp. Reports Operating Results (10-Q) Aug 06 2010 
Independent Bank Corp. Reports Operating Results (10-Q) May 11 2010 
Independent Bank Corp. Reports Operating Results (10-Q) Nov 06 2009 
Independent Bank Corp. Reports Operating Results (10-Q) May 08 2009 

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